Reading the news, and I still can't find the proper solution for business owners. There are great news but still I see to much bureaucracy and not all the points solved. The government is taking strong and immediate actions but still there are people falling through the cracks.
What is still the same?
Income Support for employees:
t involves Canadians without paid sick leave who are sick or quarantined: now the waiting period have been waived, and there is no need for medical certificate to prove you are sick. Regularly, you need 600 hours of insurable work to be eligible , for the emergency measure the minimum hours are not defined yet
What is new?
The original Care & Emergency Benefits packages are now ONE package (simplified): under the “Canada Emergency Response Benefit”, eligible Canadians will be paid $2000/m during 4 months. This is a taxable benefit.
Who is eligible?
After April 6 and will receive the benefits after 10 days
What we don't know yet about the“Canada Emergency Response Benefit” (CERB)?
Where to apply?
It's still unclear. To be proactive be sure to open your online account bot with CRA and Service Canada:
CRA is stating that: "The EI system was not designed to process the unprecedented high volume of applications received in the past week. Given this situation, all Canadians who have ceased working due to COVID-19, whether they are EI-eligible or not, would be able to receive the CERB to ensure they have timely access to the income support they need."
But right now there is uncertainty on how the self-employees who don't have kids, or are not sick, or taking care of others and people operating business that are incorporated can access those funds? Not sure yet! Is there a way we can all been covered? We need to be informed and keeping track of the news.
Still going for business:
What is still the same?
Income Support for employees:
- Regular benefits: unemployment
- Special benefits: Sickness, maternity & parental, compassionate care and Family Caregiver - also for self-employees (with previous arrangements with service Canada)
t involves Canadians without paid sick leave who are sick or quarantined: now the waiting period have been waived, and there is no need for medical certificate to prove you are sick. Regularly, you need 600 hours of insurable work to be eligible , for the emergency measure the minimum hours are not defined yet
What is new?
The original Care & Emergency Benefits packages are now ONE package (simplified): under the “Canada Emergency Response Benefit”, eligible Canadians will be paid $2000/m during 4 months. This is a taxable benefit.
Who is eligible?
- Canadians who have lost their job, are sick, quarantined, or taking care of someone who is sick with COVID-19,
- working parents who must stay home without pay to care for children who are sick or at home because of school and daycare closures.
- The CERB would apply to wage earners, as well as contract workers and self-employed individuals who would not otherwise be eligible for Employment Insurance (EI).
- Additionally, workers who are still employed, but are not receiving income because of disruptions to their work situation
After April 6 and will receive the benefits after 10 days
What we don't know yet about the“Canada Emergency Response Benefit” (CERB)?
Where to apply?
It's still unclear. To be proactive be sure to open your online account bot with CRA and Service Canada:
- CRA my Account: https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html
- My Service Canada Account: https://www.canada.ca/en/employment-social-development/services/my-account.html
CRA is stating that: "The EI system was not designed to process the unprecedented high volume of applications received in the past week. Given this situation, all Canadians who have ceased working due to COVID-19, whether they are EI-eligible or not, would be able to receive the CERB to ensure they have timely access to the income support they need."
But right now there is uncertainty on how the self-employees who don't have kids, or are not sick, or taking care of others and people operating business that are incorporated can access those funds? Not sure yet! Is there a way we can all been covered? We need to be informed and keeping track of the news.
Still going for business:
- Corporations have until September 1st to pay any tax payments
- Subsidy to cover 10% of payroll costs for a period of 3 months
- $10 billion in credit through Business Development Bank of Canada (BDC) or Export Development Canada (EDC)